“It may be feasible for China to cut off Australian iron ore shipments by the middle of the decade.”
If that were to happen, there would be a devastating hole in Australia’s finances, meaning federal and state governments would take a major tax income hit and the services we, as everyday Australians, rely on would suffer."
"The Global Times singled out Australia as the nation that will be hit hardest by the crackdown – given iron ore is such a dominant force in our exports – and accused us of “profiteering” from the rising prices."
https://www.news.com.au/finance/economy/australian-economy/china-could-cut-off-australias-136billion-iron-ore-exports-in-just-a-few-years-analyst-warns/news-story/779c36f037d299fad6678a0b548ed631"Stupid idea."
oldbull may be an old Laborite and woke but certainly not a strategic thinker.
People in Aus have not got the slightest idea of the depth of hatred towards countries outside of the Central Kingdom. The Han have been humiliated over and over in spite of a wall. Their nationalist stalinist CCP clique can smell world domination and when achieved they will mete out punishment to all those who have wronged the Han. It won't just be cutting off IO exports. These people are mass murderers.
It makes strategic sense to begin weaning Aus off this pyrrhic export item.
